Similar to IBCs, CSLs are not subject to any Seychelles’ tax or duty on income or profits if it does not derive assessable income (i.e. Seychelles’ sourced income) in Seychelles. A CSL is required to have a minimum of two directors, which must be natural persons and a Seychelles resident company secretary.
A foreign company may continue as a CSL. Licencing must be handled through a locally licenced International Corporate Service Provider.
Key Features:
- Legal Framework: Companies Ordinance, 1972 and Companies
(Special Licence) Act, 2003.
- 10 percent of authorised share capital must be subscribed to upon incorporation.
- Required to prepare and file annual returns and audited accounts to the Authority (FSA).
- Annual returns and audited accounts are not public unless the CSL derives Seychelles’ sourced income.
